82. “I’m in $20,000 of debt and she pays for everything. What’s the problem?”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 14 February 2023

⏱️ 89 minutes

🔗️ Recording | iTunes | RSS

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Summary

Melody and David are 39 and 45. They manage a picturesque multi-unit property which creates a unique money dynamic. David works as the property manager and has his own side business, but doesn’t pay attention to whether or not he’s making money, leaving Melody with a heavy burden. Connect with Ramit Get Money Coaching with Ramit Download the Conscious Spending Plan Get my New York Times best-selling book Get my no-numbers journal Other episodes Instagram Twitter YouTube This episode is brought to you by: Fabric by Gerber Life | Protect your family today with Fabric by Gerber Life. Apply today in just 10 minutes at meetfabric.com/ramit. DeleteMe | Offer for IWT Listeners: 20% off all plans with the code RAMIT, or use the link joindeleteme.com/ramit. If you and your partner have a money issue and you want my help, I occasionally select a couple to work with, free of charge. Apply for my help here. Produced by Crate Media.

Transcript

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0:00.0	I've got $22,000 in credit card debt, and I'm maxed out on all of them.
0:08.0	Oh!
0:09.0	Are you paying it off?
0:12.0	No, I'm just paying minimums.
0:14.0	1,300.
0:15.0	Do you know the interest rate on your loan?
0:18.0	Like, 26.
0:19.0	Yeah, 26%.
0:21.0	26%.
0:22.0	26%.
0:23.0	Yeah.
0:24.0	That's what Melody said, too, when I told her.
0:28.0	Holy shit.
0:30.0	Yeah, it's horrible.
0:32.0	It's hard to put into words.
0:33.0	It feels suffocating.
0:35.0	It's not all I think about, but it's suffocating.
0:42.0	If you are now making more money than you've ever made before,
0:47.0	why is the debt still growing?
0:50.0	Because I'm spending in the money.
0:54.0	Well, here's the deal with my money.
0:57.0	I either have $50 or I have $5,000.
	...

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